Its a time for legal suits and counter-suits: Mistry last week has filed a petition against the Tatas at the National Company Law Tribunal (NCLT), a body that deals with corporate grievances in India. He has alleged mismanagement and "shareholder oppression" by Tata Sons, and has asked that the group's board of directors be replaced. On Tuesday, the Tatas filed a legal notice against Mistry, saying he breached confidentiality rules in his public war against the Tata trusts. The Tata suit says Mistry illegally shared "confidential data, business strategies, financial information" about Tata Sons. The cases are unlikely to be decided immediately, and will probably wind their way through the legal system and potentially the Supreme Court. 

Cadila Healthcare clarified after newspapers today claimed the company's subsidiary Zydus had received a warning letter from the USFDA. Cadila said the FDA letter was not a warning letter, but an 'untitled' letter. Such untitled letters typically do not carry warning statements. Scrutiny by regulatory authorities such as the US FDA on Indian pharma companies has ramped up over the last year, as these firms attempt to access the US and Europe markets. This has not gone well for Indian pharma firms - major Indian drug companies, including Sun Pharma and Glenmark have been subject to FDA observation letters on safety violations at plants.

Stock in spotlight: Godfrey Phillips, which saw a sudden spike in volumes combined with high gains - the stock is up 5.8% in the markets today. BSE has noted that there is no recent news/announcements on the company, and the spike is unexplained. 

Photo of the day: Engineers in South Korea test a four meter tall manned robot called Method 2. Jung Yeon-Je/AFP/Getty